A thrilling week at Wall Street by Ivana Bruderova

A very difficult and thrilling week is beginning at Wall Street. After it recovered from the losses two weeks ago now the answers for decisive questions are expected. In Monday night president Bush will make his State of Union Address. If the proposed $150 billion tax rebate is not approved by Congress, the market will be worried about American's spending again. In Wednesday, Federal Reserve will finished it's meeting and released it's decision if cut the rates again or not. At last in Friday the investors will receive data, how the economy fared in January. The largest bank on Wall Street, Dov Jones reported losses 8% since the beginning of the year and this January could be the worst since 1960 for them. "If we are not at a bottom we are probably very close," said Antony Conroy managing director and head trader for BNY ConvergEx Group. But he believes, there is no reason to be afraid of total recession because the market is mercurial and many important data and answers just have been expected. This week,many large companies will report their earnings such as American Express Co. MacDonald's Corp., Verizon, Exxon Mobil Corp., Starbucks Coffee. Co., homebuilders Centex Corp. and Pulte Homes Inc. as wall as the Internet companies Yahoo Inc. and Google Inc. On Monday are expected data of December new home sales,on Wednesday the first estimate of four-quarter gross domestic home product and this are only few news the Wall Street is waiting for this week.. Since the World War II. there have been 11 recessions, lasting for 10 months but Wall Street needed six months to overcome it.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

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